Cramer has also warned against a 1000 other companies against buying who have then gone on to triple in price. Reciprocally, he has tipped many that have burnt and crashed to penny stocks.
Cramer is an idiot with "contacts" on Wall Street and a tv show that helps his cause.
I read some statistic following his advice that something like 70% of the time he gets it wrong and that's - let me remind everyone - someone who works at this 24 / 7 unlike most of us who have regular jobs and a regular life away from stocks and the stockmarket.
Wow tony_montana333, you obviously shorted AIB. Really risky move, how much do you stand to lose?
For current shareholders, there is no purpose in selling right now. The stock will fluctuate up and down but will eventually return to the price you purchased your stock at, granted you purchased below $2.50. At that point, sell and break even, then take your money elsewhere.
Relax with the bashing tony, AIB will be fine in the long run once the Irish govt puts their shares back on the open market.
For any daytraders, check out BLOAQ and BLOBQ. The Blockbuster bankruptcy is attracting a lot of speculation, but tomorrow appears to be bullish for both stocks based on recent news articles. A 39% rally in the last 2 days. ACTC has a lot of movement too, but not sure about that one lol.
Cramer was calling IRE a "screaming BUY" at $20
He was saying they have some of the best tier 1 capital in the world. Now he is saying dont buy Irish Banks.
Cramer runs a hedge fund! Do you people know that? When his and his buddies hedge funds are done buying, he will start yelling and screaming to BUY.
Keep in mind, stock analysts just make educated guesses. Their guess usually is just a little bit better than the man's on the street. I've lost money on both guesses, theirs and mine.
Remember, buying stock is gambling. You should not invest the rent and food money in the stock market.